no csg in nsw

http://www.theaustralian.com.au/business/mining-energy/new-action-as-santos-withdraws-pilliga-csg-rigs/story-e6frg9df-1226926238227?utm_source=The%20Australian&utm_medium=email&utm_campaign=editorial&net_sub_uid=5462254

Article in todays Australian which, in summary, suggests Santos is pulling out of its Pilliga commitment.

Whilst anecdotal, a contact in the coal seam industry in Queensland suggests that from what he hears there will never be any significant CSG in NSW. The cost of pushing through the protest groups is just too high for any company that is currently in the business.

Mel now lies stranded with enough money to pay directors for a few years while they talk about other projects but not enough capital to actually buy another opportunity.

Mel suggested they remain interested in developing current holdings, I see this is a complete pipe dream. Having been beaten by protesters once they have forever lost any opportunity, in my opinion.

I have held this stock for a number of years up until last Friday when I locked in a large capital loss. Again in my opinion it is a terrible outcome with far too much weight given to a noisy minority. I think NSW will be a much poorer state due to this outcome and it will drag on the rest of the nation.

I wish the best to any remaining holders but for me the risks now far outweigh any potential upside.